GU Long opportunity
Following a strong daily close above the resistance level, a buy-side imbalance and sell-side inefficiency(FVG) have been observed on the 4 hour chart.
1. As long as the price holds above the flipped resistance-turned-support level, the likelihood of a breakout above the trendline increases.
2. A successful breakout could propel the price towards higher resistance levels, as marked on the chart.
PS:
- This analysis is for educational purposes only and should not be considered financial advice.
- Always apply good risk management practices to your trading decisions.
1. As long as the price holds above the flipped resistance-turned-support level, the likelihood of a breakout above the trendline increases.
2. A successful breakout could propel the price towards higher resistance levels, as marked on the chart.
PS:
- This analysis is for educational purposes only and should not be considered financial advice.
- Always apply good risk management practices to your trading decisions.
Note
GBPUSD Update:
New support area added to the chart.
Trade Plan: Awaiting the outcome of today's news event to look for buy opportunities.
Key Levels to Watch:
- New support area between $1.222 and 1.216
- Reaction to today's news event
Trade active
Note
I am Setting previous position to break even, securing risk-free trade and Looking to add another position to this setup, scaling into the trade.
Aiming to maximize potential gains while maintaining prudent risk management.
Disclaimer
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